China Boosted Oil Imports Nearly 16% in Early 2026

China’s oil-import surge seen shielding economy with 120-day buffer

Crude volumes rose sharply in January and February as Beijing amassed reserves, pre-empting Mideast risks, and analysts say it provides a strong buffer for global supply disruptions.

China Boosted Oil Imports Nearly 16% in Early 2026

Crude oil imports into China climbed 15.8% over the first two months of the year, with the information likely to continue to a reversal of the recent decline in oil prices, signalling strong demand from the world’s largest importer. Per official data from Beijing, China imported crude oil at a daily rate of 11.99 million barrels, Reuters reported today, or a total of 96.93 million tons. This is higher than the 2025 average, which was a record-hi…

China’s Crude Oil Imports Jump in Early 2026

China’s crude oil imports surged 15.8% in the first two months of 2026 compared to last year, as refineries maintained high throughput and increased stockpiling. Total imports for January and February reached 96.93 million metric tons, or about 11.99 million barrels per day, smoothing out the impact of the Lunar New Year holiday. The growth was supported by higher refinery capacity utilization, with rates at 71.3% in January and 73.2% in Februar…